Activity 4.b - Using the Expanded Accounting Equation Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Liabilities $28,000 $18,000 Beginning of Year: End of Year: $64,000 $27,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 10000 Ending Equity 37000 3) If the owner contributes $7,500 and the owner with draws $37,600, how much is net income (loss)? 4) If net income is $3,000 and owner withdrawals are $6,800, how much did the owner contribute (owner, capital)? Net Income (Loss) 57100 Owner, Capital 30800 6) If the owner contributes $43,100 and the owner withdraws $2,900, how much is net income (loss)? 5) If the owner contributes $16,800 and net income is $19,200, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals Net Income (Loss) CHECK ANSWER SKIP TO NEXT RESET O Please review your answer and try again. Privacy Policy Copyright 2021 Pearson Education